BASF Will Pay $600 Million
For Korean Lysine Operation

SEOUL, South Korea -- In a fresh sign of foreign interest in South Korea, German chemicals giant BASF AG said it will pay $600 million for a profitable division of a local conglomerate.

Daesang Corp., the flagship affiliate of the Daesang Group, which ranked as the country's 29th largest conglomerate last year, sold BASF its division that makes lysine, an additive for stock feed, as part of a restructuring plan.